AUL Allows Advisers to Customize Revised Annual Plan Reviews

Earlier this year, AUL Retirement Services introduced a revised annual plan review for its clients and expanded the customization options for retirement plan advisers.

Financial advisers now have the opportunity to provide input at several data points throughout the document, including the exclusion or inclusion of data points. The new report assists with the identification of retirement education opportunities for plan participants, in-field training opportunities to show delivery options to advisers, and triggers more meaningful conversations, AUL said.

The reports now include:

  •  A comprehensive fiduciary check list and action plan to help guide a plan sponsor and act as documentation of key plan requirements. 
  •  A general compliance update section for both non-profit and for-profit plans provided by Indianapolis-based law firm Ice Miller. 
  •  Benchmarking against the industry to allow advisers and plan sponsors to make comparisons using unique, client-specific data. 
  •  A list of past period accomplishments using financial adviser and client input.   

Advisers also have the opportunity to include their name and plan sponsor company logo on the front cover.

The report can be provided to the sponsor either by AUL or the plan’s financial adviser and annual plan reviews will be posted to AUL’s e-sponsor and e-producer Web sites for a rolling two-year period.

The new report was first rolled out to regional offices during a three week pilot group in the spring of 2010.